The retail prices of E5 RON 92 and E5 RON 95 petrol rose by VND980 and VND960 per litre to VND24,570 and VND25,320 respectively.
Petroleum prices continue increasing
Meanwhile, the price of diesel and kerosene increased by VND960 per litre respectively to VND19,860 and VND18,750. Mazut oil saw a rise of VND660 per kilo to VND17,650.
This was the third consecutive petroleum price hike this year.
Earlier on January 21, petroleum product prices were raised by VND440-670 per litre.
According to Tran Duy Dong, head of the Domestic Market Department at the Ministry of Industry and Trade, crude oil prices in the global market have been on the rise and had reached an eight-year high.
The surge in oil prices was driven by the recovery of global fuel demand, especially in the aviation industry, and geopolitical uncertainty regarding Ukraine and Russia.
